Schlumberger (NYSE:SLB) Trading 5.3% Higher

Schlumberger Limited. (NYSE:SLB)’s stock price traded up 5.3% on Wednesday . The company traded as high as $36.23 and last traded at $36.14, 15,685,182 shares changed hands during mid-day trading. An increase of 44% from the average session volume of 10,864,458 shares. The stock had previously closed at $34.31.

A number of brokerages recently issued reports on SLB. Citigroup lowered their price target on shares of Schlumberger from $44.00 to $42.00 and set a “buy” rating for the company in a research report on Friday, October 18th. Deutsche Bank began coverage on shares of Schlumberger in a report on Tuesday. They issued a “buy” rating and a $42.00 price objective on the stock. ValuEngine upgraded shares of Schlumberger from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. JPMorgan Chase & Co. dropped their price target on Schlumberger from $41.00 to $34.00 and set a “neutral” rating on the stock in a research report on Monday, September 9th. Finally, TheStreet cut Schlumberger from a “c” rating to a “d+” rating in a research report on Friday, October 18th. Seven research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. Schlumberger currently has a consensus rating of “Buy” and a consensus target price of $44.94.

The firm’s 50 day moving average price is $33.92 and its 200-day moving average price is $36.22. The stock has a market cap of $48.95 billion, a P/E ratio of 22.31, a P/E/G ratio of 3.32 and a beta of 1.49. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.29 and a quick ratio of 0.95.

Schlumberger (NYSE:SLB) last posted its quarterly earnings results on Friday, October 18th. The oil and gas company reported $0.43 EPS for the quarter, beating the Zacks’ consensus estimate of $0.40 by $0.03. Schlumberger had a negative net margin of 30.22% and a positive return on equity of 6.00%. The firm had revenue of $8.54 billion for the quarter, compared to analysts’ expectations of $8.50 billion. During the same quarter in the prior year, the company posted $0.46 earnings per share. The business’s revenue for the quarter was up .4% on a year-over-year basis. On average, analysts expect that Schlumberger Limited. will post 1.46 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Wednesday, December 4th will be given a $0.50 dividend. The ex-dividend date is Tuesday, December 3rd. This represents a $2.00 annualized dividend and a yield of 5.53%. Schlumberger’s dividend payout ratio (DPR) is presently 123.46%.

In other Schlumberger news, VP Simon Farrant sold 5,000 shares of the business’s stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $33.55, for a total value of $167,750.00. Following the completion of the transaction, the vice president now owns 20,316 shares of the company’s stock, valued at approximately $681,601.80. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Saul R. Laureles sold 4,350 shares of the business’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $34.72, for a total value of $151,032.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 83,350 shares of company stock worth $2,969,872. Company insiders own 0.48% of the company’s stock.

Hedge funds have recently made changes to their positions in the company. Quad Cities Investment Group LLC bought a new stake in Schlumberger in the 2nd quarter worth approximately $32,000. Mizuho Securities Co. Ltd. bought a new position in shares of Schlumberger during the 2nd quarter valued at $32,000. Doyle Wealth Management purchased a new position in shares of Schlumberger in the 2nd quarter worth $33,000. AllSquare Wealth Management LLC purchased a new position in shares of Schlumberger in the 3rd quarter worth $37,000. Finally, Shamrock Asset Management LLC boosted its stake in shares of Schlumberger by 49.6% in the 2nd quarter. Shamrock Asset Management LLC now owns 1,061 shares of the oil and gas company’s stock worth $42,000 after buying an additional 352 shares during the last quarter. Hedge funds and other institutional investors own 75.49% of the company’s stock.

Schlumberger Company Profile (NYSE:SLB)

Schlumberger Limited supplies technology for reservoir characterization, drilling, production, and processing to the oil and gas industry worldwide. The company's Reservoir Characterization segment offers reservoir interpretation and data processing services; open and cased-hole, and slickline services; exploration and production pressure and flow-rate measurement services; tubing-conveyed perforating services; integrated production systems; software, consulting, information management, and IT infrastructure services; reservoir characterization, field development planning, and production enhancement consulting services; petro technical data services and training solutions; and integrated management services.

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